Why Hasbro Stock Was Surging Higher Today
Shares of Hasbro (NASDAQ: HAS) were trading up 2.9% as of 1:11 p.m. ET on Thursday, following news that an activist investor was urging the toy maker to make changes to its business strategy.
Alta Fox Capital Management is one of the largest shareholders of Hasbro. It owns about 2.5% of the outstanding shares, worth about $340 million. Like a true activist investor, the firm is using that influence to push for two big changes to Hasbro's business that it believes could lead to a double from today's share price.
Image source: Getty Images.
Source Fool.com
